BHAV Acquisition Corp Announces Pricing of $100 Million Initial Public Offering

Rhea-AI Summary

BHAV Acquisition Corp (Nasdaq: BHAVU) priced an initial public offering of 10,000,000 units at $10.00 per unit, implying $100.0 million gross proceeds with $10.00 per unit deposited into a trust account.

Each unit contains one Class A ordinary share and one right (each right equals 1/4 of one Class A share). Units begin trading March 19, 2026; offering expected to close March 20, 2026. Maxim Group is sole book-runner; underwriter has a 45-day option to buy up to 1,500,000 additional units.

Positive

• $100.0 million gross proceeds deposited to trust
• Nasdaq listing under ticker BHAVU beginning March 19, 2026
• 45-day underwriter option for 1,500,000 additional units (15%)

Negative

• Overallotment option can increase units by 15%, creating dilution risk
• Each right converts to only 1/4 of a share, limiting immediate share issuance per unit

PISCATAWAY, N.J., March 18, 2026 (GLOBE NEWSWIRE) -- BHAV Acquisition Corp (the “Company” or “BHAV”) today announced the pricing of its initial public offering of 10,000,000 units at an offering price of $10.00 per unit, with each unit consisting of one Class A ordinary share and one right. Each right entitles the holder to receive one-fourth (1/4) of one Class A ordinary share upon consummation of the Company’s initial business combination. In connection with the offering, $10.00 per unit will be deposited into a trust account with Continental Stock Transfer & Trust Company acting as trustee. The units are expected to trade on the Nasdaq Global Market (“Nasdaq”) under the ticker symbol “BHAVU” beginning on March 19, 2026. Once the securities comprising the units begin separate trading, the Class A ordinary shares and rights are expected to trade on Nasdaq under the symbols “BHAV” and “BHAVR,” respectively.

BHAV is led by Giri Devanur, Chief Executive Officer and Director, and Chaitanya Kumar Setti, Chief Financial Officer and Director.

Maxim Group LLC is acting as the sole book-running manager for the offering.

The Company has granted the underwriter a 45-day option to purchase up to 1,500,000 additional units at the initial public offering price less the underwriting discount to cover over-allotments, if any. The offering is expected to close on March 20, 2026, subject to customary closing conditions.

A registration statement on Form S-1 (File No. 333-293399) (as amended, the “Registration Statement”) relating to the securities to be sold in the initial public offering was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on March 18, 2026. The offering is being made only by means of a prospectus. When available, copies of the prospectus relating to this offering may be obtained from Maxim Group LLC, 300 Park Avenue, 16^th Floor, New York, NY 10022, Attention: Syndicate Department, by telephone at (212) 895-3745 or by email at syndicate@maximgrp.com, or by accessing the SEC’s website, www.sec.gov.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About BHAV Acquisition Corp

BHAV Acquisition Corp is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the Company’s initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Registration Statement and related preliminary prospectus filed in connection with the initial public offering with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Contact Information

BHAV Acquisition Corp
Giri Devanur
Chief Executive Officer
E-mail: giri@bhavspac.com

FAQ

What did BHAV Acquisition Corp (BHAVU) price for its IPO on March 19, 2026?

BHAVU priced 10,000,000 units at $10.00 per unit, totaling $100.0 million gross proceeds. According to the company, $10.00 per unit will be deposited into a trust account, and units begin trading March 19, 2026 on Nasdaq.

When will BHAVU shares and rights trade separately on Nasdaq after March 19, 2026?

The units are expected to begin trading March 19, 2026; separate trading will list shares as BHAV and rights as BHAVR. According to the company, separation occurs once the securities comprising the units begin separate trading on Nasdaq.

Who is the underwriter for BHAVU IPO and what over-allotment option exists?

Maxim Group LLC is the sole book-running manager, with a 45-day option to purchase up to 1,500,000 additional units. According to the company, the option covers potential over-allotments at the IPO price less underwriting discount.

What does each BHAVU unit include and how do the rights convert?

Each unit includes one Class A ordinary share and one right; each right converts to one-fourth (1/4) of a Class A share upon an initial business combination. According to the company, rights convert only upon consummation of the company’s initial business combination.

When is the BHAVU offering expected to close and what conditions apply?

The offering is expected to close on March 20, 2026, subject to customary closing conditions. According to the company, completion depends on satisfying normal closing requirements and applicable securities law registrations.